Why Your HR Strategy Might Be Wrong

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Some industries have no problem attracting candidates. In 2015, administrative vacancies received 57.3 applicants on average, while customer service and distribution positions were up in the high 30s.

This is in stark contrast to the financial services sector. According to PwC, 70% of CFOs in the finance industry believe they lack the talent needed to succeed, something which is mirrored in construction and many other highly skilled industries. This has made HR more influential, and with this, increased the need for it to incorporate new processes. The department also faces a fresh challenge in the form of Millennials. As a generation, the perception of the employee/employer relationship has developed, bringing with it fresh demands.

HR is more than just a hiring function. It needs to support current employees when they have a problem, or want more information about their progression with the company. Organizational retention is key to developing a strong corporate culture, and, therefore, it's important to look to improve, and evolve the function when possible.

Workplace training is key to this. If your training processes are rigidly defined and inflexible, you should consider that Millennials will soon make up the majority of your workforce. This will lead to a shift within the function, where companies will need to embrace different forms of learning. Overly relying on outdated methods, like classroom sessions and training manuals, could fail to engage Generation Y, and ultimately alienate them from your company. While Millennials might not be the tech-savvy generation we all thought they were, their soft skills and motivation remain second-to-none - they want to improve and progress quickly, and training is central to this. They call for personalization, and more interactive sessions that are optimized for mobile.

The HR department's other major concern is attracting talent. The recruitment process has been completely rethought, with many candidates relying on Indeed.com - 140 million in 2014 - to find their new job. Twitter has also grown in importance, with many companies advertising their vacant positions on the network. Social media, in general, is important for recruiters because it allows them to communicate with passive job hunters, not just those who are specifically looking for a new position.

Other techniques, such as personalized road maps detailing career progression goals should also be thought about, so that no employee ever feels like they're coasting. If this isn't what your HR process currently looks like, then you should think about making a change. That change, however, doesn't need to be rash. Start small and gradually scale up - that way it won't be such a shock to the system.

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